There are people trying (I am one of them). It runs off bytecode (which is converts to another format) - so it looks possible. Will find out shortly. I am interested in jruby, jython and scala.

You write it in Java and then it's compiled to their own proprietary virtual machine - Davlik. Rather than Jython, I'd hope for a tool that would turn python straight onto Davlik bytecode.

Hopefully there should be either documentation/source for the VM at some point or an enterprising person is reverse engineering it as we speak.

Yeah, that is a very important distinction.